The important factors that drive this market include growing need for renewable energy and advances in energy grid construction and installation. Increasing demand for electric vehicles in view of the rising fuel prices also plays a significant role in propelling the market for next generation energy storage.

Based on the applications, the next generation energy storage systems market is segmented into Electronics, Oil and Gas, Transportation, Mining, Marine, Military, Manufacturing industries and residential sectors. The demand for Next Gen Energy Storage is growing at a steady pace across the globe due to high demand for energy storage in these end-use sectors.

In the report, the market has been segmented by geography as America, Europe, APAC, and rest of the world. Market size and forecast is provided for each of these regions.